Monthly Archives: July 2010
Arnold Kling has rediscovered another Hayek insight: “Most unoccupied houses have close to zero marginal value to the vast majority of consumers, just as most unemployed workers have zero marginal product to the vast majority of firms.” The distinction between … Continue reading
A YouTube video.
A new working paper from Steven Ealy.
Eamonn Butler’s excellent short study of Hayek’s economics and social philosophy is now available on the internet as a pdf document. The book is Hayek: His Contribution to the Political and Economic Thought of Our Time.
F. A. Hayek page. Of particular interest — “Key Concepts in Hayek’s Thought”. ht Molivam42.
Housing production* is exactly the kind of thing Hayek identified as a time delayed production good which can absorb credit, capital, and leverage in a bandwagon of false expectations, only revealed as structural malinvestments at the end of the artificial … Continue reading